The CDRFI (Climate and Disaster Risk Finance and Insurance) Africa Forum have called for a regional risk pool to strengthen financial protection for public assets and critical infrastructure against climate and disaster risks.
The Financial Regulatory Authority (FRA) has clarified the scope of application of the rules for forming the boards of directors of insurance and reinsurance companies and related committees, in light of the inquiries received from a number of companies.
The Moroccan InsurTech, Inclusion, and Innovation Programme (PM3I) is entering its implementation phase, with a provisional procurement schedule showing that several consultations are expected to be launched by early 2027 for its implementation.
New regulatory criteria announced by Saudi Arabia's Insurance Authority for motor insurance pricing should strengthen underwriting discipline, reduce excessive price competition and support the long-term sustainability of the motor insurance segment, Moody's Ratings (Moody's) says.
Kazakhstan plans to widen conditions for the development of Islamic insurance (takaful) and the expansion of the range of Shariah-compliant insurance products, including allowing the forming of takaful windows.
India's insurance regulator has proposed limits on distribution costs and commissions as part of a broad overhaul aimed at reducing the cost of insurance and strengthening safeguards for policyholders.
FWD Life Insurance Company (Bermuda) Limited has been ordered to pay a HK$19.5m penalty by Hong Kong's insurance regulator over shortcomings in the insurer's controls on third-party payments. The Insurance Authority (IA) imposed the penalty following an on-site inspection under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).
Agricultural insurance, as a specialised tool for managing agricultural risks, is undergoing significant changes under China's revised Agriculture Law. The current law essentially addresses the question of whether agricultural insurance exists. The revised law goes further, addressing how well it works, whether it is fair, and whether it is sustainable.
The supervisory rating system is fragmented, opaque and reliant on relative rankings, disadvantaging small and foreign insurers and undermining China's efforts to build a diversified market and a level playing field, says the Insurance Working Group (IWG) of the European Chamber in China.
Unclear access criteria and hurdles in obtaining macro and segment-specific market data from official sources impede insurance intermediaries' and service providers' engagement in market research, risk assessment and strategy development, the Insurance Working Group (IWG) of the European Chambers says.